China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury’s first-ever direct relationship with a foreign government, according to documents viewed by Reuters.

The relationship means the People’s Bank of China buys U.S. debt using a different method than any other central bank in the world.

The other central banks, including the Bank of Japan, which has a large appetite for Treasuries, place orders for U.S. debt with major Wall Street banks designated by the government as primary dealers. Those dealers then bid on their behalf at Treasury auctions.

China, which holds $1.17 trillion in U.S. Treasuries, still buys some Treasuries through primary dealers, but since June 2011, that route hasn’t been necessary.

The documents viewed by Reuters show the U.S. Treasury Department has given the People’s Bank of China a direct computer link to its auction system, which the Chinese first used to buy two-year notes in late June 2011.

CONTINUED at Reuters.

A group of Communist Party veterans have written a daring open letter calling for the removal of China’s top security official, in the latest sign of disunity ahead of Beijing’s leadership transition.

Security chief Zhou Yongkang, one of China’s top nine rulers, is viewed as a hardliner and is linked to Bo Xilai , the charismatic party leader whose downfall earlier this year triggered the nation’s biggest political scandal in decades.

In an open letter to President Hu Jintao, published on a number of overseas websites, the veterans suggest that Zhou is part of a movement to revive the China of Mao Zedong.

Zhao Zhengrong, a retired anti-corruption official from the southwestern province of Yunnan, told the AFP news agency that he, and 15 other party members from the same province, had sent the proposal advocating Zhou’s removal to higher authorities.

Speculation has been growing about the future of Zhou since the downfall of another top politician, Bo Xilai.

Al Jazeera’s Melissa Chan said that the letter was significant because it was rare to see this type of dissent in China.

“For the first time in 20 years, we really are seeing a debate and a split in the political leadership,” she said.

Despite this divide, she said the letter was unlikely to have any impact on the national government.

“What’s lost in this entire narrative is that the next president and premier of China are not going to change,” she explained.

Source: Al Jazeera. Video at link.

The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.

The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.

ICBC has been the most aggressive of China’s “big four” banks in expanding overseas.

According to the Fed the bank has total assets of roughly $2.5 trillion.

It will buy up to 80 percent of the US unit of the Hong Kong-based Bank of East Asia, which operates 13 branches in New York and California.

As part of the deal ICBC and two state-backed financial firms — China’s sovereign wealth fund the China Investment Corporation (CIC), and Central Huijin Investment — will be recognized as bank holding companies, regulated as commercial US banks.

The broad expansion of China’s footprint in the US market comes amid a series of financial reforms in China that could begin to open the lucrative market to US firms.

After the May 3-4 meeting, the US Treasury noted China had made “encouraging progress” on a number of issues sought by the Obama administration, including taking steps toward a more open and market-oriented financial system.

The Fed said Wednesday that the ICBC proposed acquisition, which is “relatively small,” would not have much of an impact on the banking market.

“The combined deposits of the relevant institutions in the Metropolitan New York banking market represent less than one percent of market deposits,” the central bank noted.

The competition includes Bank of China branches in the New York metropolitan area, and CIC, which has a noncontrolling stake in Morgan Stanley.

ICBC will pay $140 million to buy an 80 percent interest in Bank of East Asia USA, China’s state news agency Xinhua reported in January 2011, at the time the deal was signed.

“This unprecedented acquisition of a controlling stake in a US commercial bank by a mainland bank is strategically significant,” Xinhua quoted ICBC chairman Jiang Jianqing as saying.

The Fed said its Board also consulted with the China Banking Regulatory Commission, the country’s main banking regulator, and pointed to steady improvement in regulation since its founding in 2003.

“For a number of years, authorities in China have continued to enhance the standards of consolidated supervision to which banks in China are subject, including through additional or refined statutory authority, regulations, and guidance,” it said.

In other Fed board decisions, Bank of China, the third-largest bank, won approval for a branch in Chicago. Bank of China operates two insured federal branches in New York City and an uninsured branch in Los Angeles.

Agricultural Bank of China, the fourth-largest bank, was set to establish a branch in New York City, where it already operates a representative office.

Source: Yahoo News Canada.

Thousands of pills filled with powdered human flesh have been discovered by customs officials in South Korea, it was revealed today.

The capsules are in demand because they are viewed as being a medicinal ‘cure-all’.

The grim trade is being run from China where corrupt medical staff are said to be tipping off medical companies when babies are aborted or delivered still-born.

The tiny corpses are then bought, stored in household refrigerators in homes of those involved in the trade before they are removed and taken to clinics where they are placed in medical drying microwaves.

The discoveries since last August has shocked even hardened customs agents who have pledged to strengthen inspections.

There is a huge demand for alternative Chinese remedies – which include ground up rhino horns. The Chinese have historically consumed human placentas to improve blood supply and circulation.

Health authorities in Asia are concerned that if the powdered foetus trade is allowed to continue the capsules will find their way onto the internet and be sold to gullible or sick desperate people in other parts of the world.

The South Korean Customs Service said today that it had heightened its searches of suspicious packages being brought into the country by travellers from China in an attempt to stamp out the sickening trade.

According to customs agents, 35 smuggling attempts have been made since August last year involving more than 17,000 capsules disguised as ‘stamina boosters’.

Hospitals and abortion clinics in China reportedly pass the remains onto drugs companies when a baby is stillborn or aborted, the South Korean SBS documentary team reported last year.
The San Francisco Times reported that tests carried out on the pills confirmed they were made up of 99.7 per cent human remains.

The tests were successfully able to establish the genders of the babies used.

There is a huge demand for the pills which are thought to enhance stamina. Microwave-dried placenta is also sought after for its alleged ‘medicinal’ benefits.

However, in reality the human flesh capsules contain super-bacteria and other harmful ingredients.

There have been disturbing reports that some babies were those who had perished in China’s notorious ‘dying rooms’ where youngsters are deliberately left to die because they were born into families that already had the limit of one child in country areas. …

Despite their disgust at discovering packets of the so-called rejuvenation pills being brought in from China, South Korean officials have refused to confirm where the babies came from or who made the capsules.

Sources said this was because they were not prepared to create diplomatic friction with Beijing, preferring to leave it to Chinese officials to do something about the horrific trade in powdered babies.

Source: The Daily Mail.

Some of the most powerful unions in Los Angeles want to make sure that Wal-Mart doesn’t have a chance of opening anytime soon in Chinatown. Perhaps they should meet some of the Chinese senior citizens who support it. I did—and with the help of a translator and my own rusty Chinese, I learned that “fresh fruit,” “always low prices,” and “cheap stuff” sound good in Mandarin and Cantonese, too, especially to those immigrants and seniors living near the poverty line or in assisted living centers.

For decades, there’s been nothing on the vacant first floor of the apartment complex where Wal-Mart wants to open its Chinatown store—which it hopes will be the first of many “neighborhood marts” in Los Angeles County. Slightly smaller than a Whole Foods supermarket and only one-fifth the size of a typical Wal-Mart, the 33,000 square-foot store on West Cesar Chavez Avenue would offer fresh fruits and groceries, beauty products, and—most crucially for the seniors I spoke with—a pharmacy.

Right now, Chinatown has only one grocery store and a highly priced CVS drugstore to serve its nearly 50,000 residents. The lack of competition allows these stores to charge even more than the area’s high-priced small markets for what should be cheap products like aspirin.

In addition, many residents worry about the quality of the meat at some of the Chinese shops that Los Angeles city officials say a Wal-Mart will undercut. Indeed, all of the Chinatown residents I spoke with emphasized that at some of the Chinese markets, meats and other items are displayed on the sidewalk, exposed to the air and heat.

CONTINUED at Reason. Written by Charles C. Johnson.

His progression made sense as he strove to improve his life. But there’s a twist: The 46-year-old Ren plans to move back to a cave when he retires.

“It’s cool in the summer and warm in the winter. It’s quiet and safe,” said Ren, a ruddy-faced man with salt-and-pepper hair who moved to the Shaanxi provincial capital, Xian, in his 20s. “When I get old, I’d like to go back to my roots.”

More than 30 million Chinese people live in caves, many of them in Shaanxi province where the Loess plateau, with its distinctive cliffs of yellow, porous soil, makes digging easy and cave dwelling a reasonable option.

Each of the province’s caves, yaodong, in Chinese, typically has a long vaulted room dug into the side of a mountain with a semicircular entrance covered with rice paper or colorful quilts. People hang decorations on the walls, often a portrait of Mao Tse-tung or a photograph of a movie star torn out of a glossy magazine.

CONTINUED at the LA Times.

President Obama greeted the Chinese heir apparent in the Oval Office on Tuesday morning, a venue where the U.S. president usually receives only the nation’s closest friends.

But even as the two countries eye one another warily, the Obama administration wants to keep its options open with Vice President Xi Jinping as he prepares to take his place as president next year.

In a joint appearance before their meeting, Obama told reporters that the U.S. relationship with China is based on “mutual interest and mutual respect,” and that such a relationship is in the interests of the rest of the world, too.

The United States welcomes China’s “peaceful rise,” Obama said, which he said has the power to “help to bring stability and prosperity to the world.”

Xi said that he and Vice President Joe Biden had reached a “new consensus” during their talks, though he didn’t say what that was, and that his goal is to “move forward the U.S.-China relationship.”

Xi, 58, is expected to succeed Chinese President Hu Jintao as leader of the Communist Party later this year and as president next year, a position he will probably hold for a decade.

His five-day tour of the U.S. gives the Obama administration a chance to open the official relationship on a positive note — and to get a sense of Xi’s agenda and style in advance of his ascent.

One of the key goals of the White House is to express the importance of achieving harmony on economic issues, administration officials say.

Obama began delivering that message even before the leaders went behind closed doors Tuesday.

With China’s expanding power comes increased responsibility, Obama said. When it comes to trade, he said, China must follow “the same rules of the road” as does the United States.

Source: The LA Times.

As Chinese take up a big position on gold, COMEX commodity speculator positions begin to surge.

The spot market price of buying Gold climbed to $1728 an ounce Monday morning London time – a slight drop from last week’s close – while stock markets, commodities and the Euro all fell and government bond prices rose as European leaders met for their latest summit in Brussels.

The cost of buying Silver fell to $33.08 at one point – a 2.6% drop from where it ended last week.

Gold fell as low as $1718 per ounce Monday morning, dropping steadily during Asian trading, though this represented a loss of only 1% on Friday’s closing price.

CHINA

“Everybody seemed to be expecting profit taking out of Shanghai after the two Chinese bourses came back online,” said one Hong Kong dealer.

“As far as we can see, there wasn’t much of that.”

During last week’s Lunar New Year holiday, China saw a “gold rush”, with consumers spending more on buying gold than during the 2011 festival, according to a China Daily report.

“People seem crazy about gold, snatching it up more like a cheap cabbage than such a precious metal,” it quotes Beijing resident Miao Miao.

The value of sales at two of Beijing’s top gold retailers, Caibai and Guohua, reportedly hit 600 million Yuan ($95.28 million) – a 49.7% rise on last year’s sales, almost 50% increase in purchases! The gold price in Dollars meantime rose around 25% over the same period.

The Yuan also appreciated against the Dollar over that time, gaining around 3.6%, which implies a rise in Chinese domestic gold prices of around 20%.

CONTINUED at Commodity Online.

*Written by Rob Rimes.

Let me start by saying that even though I’ve referred to other debates as the worst, this one definitely took the cake and showed us just how godawful these things can be. This debate came to us from Tampa, Florida and was hosted by NBC. Brian Williams was the moderator and he was a shitty one at that. To start, there were no intros and the audience was not allowed to participate in any way. This means that the crowd could not applaud, boo or get fired up like they have in most previous debates. While I understand that this is done to speed up the process and fit in more quality time with the candidates, it creates bad television and boring debates, especially when the candidates argue incessantly for long periods of time and the moderator is too chicken shit to break it up and stick to his own rules regarding time. My biggest regret about watching this goddamned thing is that I only had one beer in the whole fucking house. I was also too lethargic from a 20 oz. New York strip to get up and mix a stronger drink. At least the ecstasy I got from my giant piece of premium American red meat kept me from losing my shit and going completely insane throughout this episode of ‘Three Statists and a Constitutionalist’.

So we start with Newt Gingrich being asked to respond to Mitt Romney recently calling him “erratic” and a “failed leader”. Woohoo! Here we go already starting with the personal attacks over policy issues. Gingrich immediately dropped several Reagan references and was shocked that he didn’t get any applause. Oh yes, the crowd must stay silent or be forced to stare into the droopy eyes of Brian Williams who has been known to turn people into hipster liberals with just a quick glare. This didn’t bode well for Newt as he was waiting for the crowd to react to his empty one-liners. Gingrich said he was like Reagan, who ignored Carter and went on to win the election. Really Newt? You’re ignoring the attacks against you? Funny, because every show I’ve seen you on, you’ve just gone on and on about all the attacks against you.

Gingrich is immediately given a second question, as Williams asks him how he has changed since being Speaker of the House. Gingrich says that as Speaker he had four consecutive balanced budgets, which he says is unheard of. He also brags about how many jobs he created and how he reformed welfare. This is also funny because in a recent interview he took the Romney approach and said government doesn’t create jobs the private sector does. So which is it Newt?

Brian Williams then directs his attention to Mitt and I can already tell that Paul and Santorum are probably going to get the shaft on time this round. Romney is asked if he is electable, which is a dumb fucking question. It’s a dumb question when anyone is asked this, really. Romney talks about how he saved the Olympics and created tons of businesses. He doesn’t actually answer the question he just runs through his already well-known yet well-rehersed talking points. He then switches to attacks on Gingrich and disses him for talking bad about the Paul Ryan Plan and for aligning with Nancy Pelosi on several occasions.

Newt Gingrich says that he isn’t going to spend the entire evening “chasing Mitt’s misinformation.” Yes he will, just keep reading. Gingrich says that the American people need a discussion on how the candidates are going to beat Obama and that they need to move passed the bullshit. Romney jumps in and points out that 88 percent of the Republicans in the House of Representatives voted against Newt, which caused him to resign from his position in disgrace. Mitt also points out that Newt’s approval rating when he left Congress was 18 percent. Romney then takes a stiff shot at Gingrich when he says that we can’t retake the White House if the person leading the fight was in the pocket of Freddie Mac. This fight then goes on forever and Brian Williams just lets them duke it out regardless of time restraints and the fact that there are other candidates who haven’t even talked yet. Gingrich tries to explain how he left Congress, which is all bullshit and just leads to him arguing with Romney over who has the most inaccurate attack ads. I thought you were ignoring the attacks and weren’t going to spend the evening “chasing Mitt’s misinformation”? Can we please discuss the real issues?!

Rick Santorum finally gets asked a question and as much as I loathe the guy, I’m glad to see him at this point. Of course he is asked to comment on the Romney-Gingrich spat because Brian Williams wants the two feuding idiots to be front and center to help discredit the GOP as a whole. Santorum rambles some nonsense about painting a positive vision for the country and adds that he creates a real contrast to Mitt and Newt. Um, not really homeboy unless you’re referring to the religio-fascist part. Santorum then claims to “..have a track record of being a strong conservative.” Well that depends on what your definition of a conservative is, as it varies greatly from candidate to candidate.

Brian Williams then takes a shot at Santorum and says that he lost his seat in the Senate by 18 percent. This was of course after Santorum bragged about winning the seat in a liberal state. Santorum responds to the criticism by saying that the Republican governor in Pennsylvania lost worse than he did that same year. What the fuck does that have to do with anything? Santorum also physically crouched down when he was rambling incoherently and actually said the word “crouch down”. Thanks for the visual buddy.

Finally Ron Paul gets brought into this thing! Williams reminds us that Paul once said that he never visualized himself as winning the nomination so why does he think he can win now. Paul says that he doesn’t sit around and dream about being in the White House like everyone else on stage. He points out that, according to polls, when he is put head-to-head with Obama he has a better chance at beating him than anyone else in the GOP. Paul also clues the masses into the fact that Iowa was just a straw poll and the real winner hasn’t yet been decided, as it will be the person who acquires the most delegates. He’s asked if he will run third party because every goddamned moderator has to seemingly ask this question. Once again, Ron Paul says that he has no intentions to do so. He is then asked if he would ever support Newt. Paul gives Gingrich props on his stance with the Federal Reserve and the gold standard but adds that he needs to change his stance on foreign policy. Newt responds by giving Paul some props on economic issues.

They then get into the boring topic of Mitt Romney’s tax returns which just shifts all the attention back to Tweedledum and Tweedledumber – that being Romney and Gingrich, you can choose which is which. Romney says that his income tax info will show how he made profits and rewards. He then goes on to claim that he’ll drop corporate tax rates while reshaping the entire tax code in an effort to simplify it. Gingrich jumps in and channels Mitt’s dad, who released a dozen years worth of tax information. Newt then says something about a Hong Kong tax model. This guy’s always pulling obscure shit from other countries. Romney jumps back in and says he and his father disagreed on many things and unlike his dad, he will only release a few years worth of his personal tax data. Romney then goes on to say that he inherited nothing and made his own mark in the world. He name drops Staples, Sports Authority and Steel Dynamics as ten minutes have passed without mentioning them. Truthfully, I think everything Mitt says is a pre-recorded statement and he just moves his lips to the words.

The mic in this rap battle is then passed back over to Santorum. He takes a shot at Newt and Mitt when he says that they claim to support capitalism but how can they make that claim when they supported the bailouts. Santorum says that we should have allowed these moronic financial institutions go through bankruptcy. What some people might not know though is that Rick Santorum wasn’t in office at the time of the bailouts so he couldn’t vote on TARP; so it is easy for him to say he didn’t support it. When looking a little deeper however, Rick Santorum did support the bailout of the airline industry. So would he have really rejected TARP? Based off of the $15 billion dollar airline bailout and his past voting record with other things, Santorum looks to be a pro-TARP motherfucker. Lucky for him he lost his seat in the Senate and didn’t get stuck with TARP on his record.

Newt is asked about more criticism from Mitt, who apparently claimed Gingrich “peddled influence” with Freddie Mac. Why couldn’t this be addressed the first time in this very same debate when Newt was asked to comment on Mitt’s criticisms? Time wasting bullshit! Newt said he never “peddled influence” and added that Romney’s approach about the Freddie Mac situation is nasty. Gingrich claims that he never lobbied for them and actually says that he brought in experts to teach his staff how to not lobby. Sorry, I just find that laughable. Romney quickly lashes back at Gingrich saying that Freddie Mac doesn’t pay “historians” as much as they paid Newt. Romney also points out that Gingrich was pushing GSEs every chance he got, which is a form of lobbying. Newt said he only made $35,000 per year, which is a lie. Why do people like either of these shady bastards? Aren’t Americans sick of criminals in power?

The Mitt-Newt show goes on for a long time as these two duke it out with no buzzer going off and Brian Williams sitting quiet – wasting our precious fucking time on this bitch fight. Williams, after minutes of this nonsense finally cuts in to stop it but only because NBC has to go to commercial break. Brian Williams has the spine of a squid.

After the commercial break, the issue of the housing crisis comes up. Santorum is the first person asked to address it. He claims that he saw the crisis on the horizon and tried to stop it. Yep asshole but you were about a decade behind Ron Paul on seeing it. Santorum, while explaining his fallacious knowledge on the subject, actually utters the phrase: “Let capitalism work.” Hilarious! This guy doesn’t know what capitalism is! Santorum immediately follows up his pro-capitalism line by saying that the government needs to step in and help the people who have lost their houses. Here we go with the doublespeak! Santorum continues by saying that people need the freedom to get out from under these houses and get relief. Really dude? Just “let capitalism work”?

On the same issue, Paul is asked if the government owes the people anything. Paul says that they owe the people a free market and sound money. He says that the interest rates were kept too low for far too long. Ron Paul says that he introduced legislation to help prevent the housing bubble from bursting years before it actually did. He declares that the bubble and the consequences of these actions were easy to spot but no one in Washington did. Paul says that the government needs to get out of the way. He then closes by saying that the Federal Reserve dumped so much debt on the taxpayers after wiping the slate clean with banks and corporations they bailed out.

Brian Williams, who apparently wants to suck Mitt’s dick, gives us another Mitt-Newt session when he brings them in on the housing issue. Romney says that the government has to help the people they fucked but immediately after that says that the government has to get out of it. Which is it bro? Gingrich says we need to repeal Dodd-Frank as it would improve the economy overnight. He says that the bill led big banks to get bigger. Newt is asked if the financial system is overregulated, which just proves how stupid Brian Williams is. Romney jumps back in to monopolize more time and says that the markets need regulation to work. What? What happened to capitalism? He then adds that we need up-to-date regulation not that old shitty regulation.

Williams, who wants to keep Romney in the spotlight, switches the subject and asks him about opening up Cuba. Mitt actually says that he’d be glad if Fidel Castro died and went to see his maker.. WTF?! Romney says we can’t talk about opening up Cuba but we need to support those in the country who want freedom. Okay, so how are we supporting them by contributing to making their economy shit? Why do you think that it is so easy for Castro to convince his people that America is bad? This is why! Romney wants to help Cubans by punishing them and not “giving in”.

Gingrich adds to Romney’s “glad when Castro’s dead” comment by saying that he won’t meet his maker but that he’ll essentially go to Hell. Newt starts talking about a “Cuban Spring”. He says that we need to reach out to younger Cubans who want freedom. Of course he, like Mitt, wants to do this without working with them in a productive and positive way. These guys must believe in magic.

When the discussion shifts back over to Ron Paul, he says that he has a lot to teach these guys on foreign policy. Ron Paul calls Newt and Mitt’s tactics “isolationist”. Funny watching Ron flip the script when every idiot out there calls him an “isolationist” as the idiots don’t really get what it means. Paul points out that the Cold War is over and the Cuban Missile Crisis was 50 years ago. He adds that we prop up Castro with our sanctions and embargo as it helps him stay in power by gaining support through pointing the finger of blame at the United States. Paul reminds the candidates that we used to talk to the Soviets and currently talk to the Chinese while we’ve had major problems with both. He even adds that we went in and talked to the Vietnamese after the disastrous Vietnam War. He says that we are living in the dark age if we are going to refuse to talk to Cuba.

Santorum, who apparently ignored Paul’s great insight, calls for us to use sanctions against Cuba until the Castro brothers die. He says that for right now we have to keep the current policy active and we shouldn’t embrace Cuba until the dictators are dead. Santorum then goes on a dumb tangent about how Cuba works directly with jihadists. Here we go with the fear mongering!

On Iran, Romney says we need to build a super strong military to scare the fuck out of everyone. Gingirch says that we are a country that likes peace and stability. Apparently he means between all the wars he wants to bring forth. Gingrich adds that he feels that we should defend the freedom of the sea. He then shares his thoughts on Obama, saying that Iran keeps testing us because our president is weak. Ron Paul gets in the Iran talk and says that our blockade of Iran’s strait is an act of war and tells us to imagine if the roles were reversed. Paul points out that Iran needs the Strait of Hormuz as much as we do. He warns us all that we have too many wars and the thought of invading Iran is ridiculous as we don’t have any money.

Santorum is asked how he would attack Iran when they have such a large target list. Santorum doesn’t answer that, he immediately goes right into the fear mongering he is so good at. He says that if Iran gets a nuke, the whole world will change. He then says that Obama’s Iran policy is a failure and feels that no one in power is serious about the Iranian threat. He then claims that Iran’s leadership is the equivalent to having a country ran by Al-Qaeda. He hammers the point that it is reckless to not try and stop Iran from building a nuke. He then flips the script and starts rambling about manufacturing and energy in Florida.

The candidates are then asked why it is okay for them to court voters in Spanish while they are all in favor of English as a national language. Gingrich says that the common bond that unites a country is one language. He says that there will be 300-400 languages used in the U.S. very soon so we need to unify the people with just one. Romney agrees with Newt before rambling about Massachusetts teachers teaching in other languages. Ron Paul steps in and says that we need to have one language at the national level but adds that if states want ballots in Spanish, such as Florida, it is their right to do so. Paul says that you can make English the official federal language without interfering in what the states want to do.

On illegal immigration, Newt says that the children of illegals should be allowed to join the military so they can go off and die for his senseless wars. Romney says he would not sign the DREAM Act in its current form but he would if it included military service. Romney then goes on a weird rant that illegals should “self-deport” themselves, go back to their country of origin and apply for legal citizenship. Santorum, who didn’t think the “self-deportation” comments were obscure, says that people have been self-deporting for awhile now due to our shitty economy. Santorum keeps referring to illegal immigrants as “they” as if they are something other than individuals.

Newt is asked about sugar and goes on to ramble about sugar types. Romney, who gets a bunch of money from Florida sugar farmers, says that we need to kill sugar subsidies. He then goes on a rant about homes in Florida, diverting his attention away from sugar. Romney says that too many homes in Florida are underwater. OMG! Global warming is drowning us! Oh.. wait.. that was a figure of speech.

Ron Paul is asked some dumb question about saving the Everglades and then we go to a commercial break. Why couldn’t they ask that dummy Santorum about the Everglades? He’s a snake, he’d have more invested in the issue. We also get Williams asking abut the Terry Schiavo case, which happened years ago and has nothing to do with anything that is going on right now. Gingrich and Paul address it but it is just a time-waster.

Romney is asked if space is a priority. He says “yes” but adds that Obama doesn’t have a real vision for NASA and because of that, Florida is suffering. Actually dude, I live in Florida and I’m doing okay, so don’t speak for me. Mitt says that the right mission for NASA needs to be determined by the president. Um.. I thought you were a capitalist guy? Romney then adds that NASA shouldn’t be solely funded by the government but that it should be funded by a collaborative effort of the military and companies that have ties and can benefit from the institutions work.

Keeping with Romney, he is asked what he’s done to promote conservatism. Mitt gives the stupidest answer when he says that he has created a family and worked in the private sector. Really, that’s your answer? Gingrich is then brought in and asked to comment on Mitt and replies with, “I don’t want to spend my time commenting on Mitt.” Well what the fuck was he doing the first half of this goddamned debate?! Santorum jumps in and rants and whines about a bunch of shit regarding Gingrich and Romney not being as conservative as he is.

Brian Williams then asks Ron Paul if Gingrich and Romney are insufficiently conservative. Why didn’t Williams ask if Santorum was? Ron Paul says that it all depends on what your definition of conservative is. He points out that conservatives have lost their way completely and asks how can a person be conservative when they’ll cut food stamps but won’t stop wasteful spending overseas. He adds that you can’t have smaller government if you keep creating all these wars. He also adds that you can’t promote personal liberty and then try to legislate all the crap that the GOP wants.

Mittens says that he has a solid conservative record, just look at it. Okay dickbag. He then diverts and brags about how Ted Kennedy had to take a loan out on his house to beat him in the governor’s race back in the 90′s. Yeah, he still beat you dude. He finishes his soulless rambling by saying he will repeal Obamacare and leave health care up to the states.

Gingrich is asked about his numbers being on the rise and what scares him the most about possibly becoming president. He just says that the next president will face enormous problems. No shit cuntpickle! He then warns that there are too many huge special interest groups working against the country and only for their own benefit. Somehow he expects to defeat that. This ends the debate, twenty minutes early and Brian Williams introduces NBC’s crack staff to analyze the debate for the remainder of the time. I turn off the TV.

God this shit was awful.

Grading Scale:
Grade B: Ron Paul
Grade D+: Newt Gingrich
Grade D: Rick Santorum
Grade D-: Mitt Romney

Retired NBA star Yao Ming has added another line to his post-basketball resume — politician — becoming a member of an advisory body to Shanghai’s legislature.

Since the 31-year-old Yao announced last July that injuries had ended his career with the Houston Rockets, he has become a university student and set up a wine business to go with owning a professional basketball team in China.

Photos in official media on Monday showed Yao at the weekend closing ceremony for the Chinese People’s Political Consultative Conference Shanghai Committee.

“There are about 142 members in the group, and Yao is the youngest,” Kong Rong, who works in the service office of committee, was quoted as saying by the China Daily.

The advisory committee does not have any real power, but the newspaper said Yao is supposed to attend regular meetings, and can make suggestions for the advisory body and government departments.

Yao was quoted as saying “raising proposals is very serious business, and I do not want to be hasty.”

It is common for sports figures to move into politics in China. Olympic gold medal hurdler Liu Xiang is a member of both the Shanghai and national political advisory bodies.

Yao, one of the most popular celebrities in China from his eight seasons in the NBA, is a student at Jiaotong University, one of the top universities in his hometown Shanghai.

In November, he released the first-ever bottles of his new Yao Ming-branded wine, a 2009 Napa Valley Cabernet Sauvignon currently available only in mainland China, where the market for imported wines has boomed over the past decade.

Source: The Daily Caller.